China's shock suspension of Ant Group's record US$37 billion listing in a last-minute regulatory ambush looks set to hit the financial technology giant's growth prospects and cut into its valuation.
That said, analysts and investors expect the dual Hong Kong and Shanghai listing to be delayed and not completely derailed. Ant said in a filing on Wednesday it would maintain close communication with regulatory authorities and the Hong Kong and Shanghai bourses on the progress of its IPO and listing and would disclose information in a timely manner.
"The basic message of Chinese regulators' intervention in the Ant IPO is that this de-risking agenda is still the top priority. No innovation is so important that it can be allowed to create financial instability," said Andrew Batson at Gavekal Research. Iris Tan, a senior equity analyst at Morningstar, said she thought regulators were aiming to level the playing field for fintech players and traditional financial institutions and that she expects Ant will be required to have more registered capital for its consumer credit business.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Explainer: Ant juggernaut jackknifes on US$37 billion road to marketWith more than 730 million monthly users in China on its Alipay app and a growing role linking lenders and borrowers, Ant Group had appeared ...
Leggi di più »
Ant juggernaut jackknifes on US$37 billion road to marketWith more than 730 million monthly users in China on its Alipay app and a growing role linking lenders and borrowers, Ant Group had appeared ...
Leggi di più »